Coinbase Global Inc. experienced a significant surge in its stock price following a robust quarterly earnings report, marking its first profit in two years. The cryptocurrency exchange platform's earnings beat Wall Street's expectations by over $125 million, with revenue slightly above $950 million, attributed to strong trading volumes and higher interest income, particularly in the wake of the bitcoin ETF frenzy. JPMorgan upgraded Coinbase's rating from 'Underweight' to 'Neutral' with a price target (PT) of $80, reflecting the rising cryptocurrency prices and the positive impact of spot bitcoin exchange-traded funds (ETFs). The earnings report highlighted Coinbase's return to profitability, driven by Bitcoin's recent resurgence, cost cuts during the last crypto winter, and increased retail engagement. The stock's after-hours surge of up to 25% underscores the market's optimistic outlook on Coinbase's future performance, especially considering the potential of its new products and the ongoing crypto market capitalization and volatility growth.
Coinbase’s stock price just surged to its highest level since March 2022 https://t.co/00eDneW1Gg
Coinbase earnings report takeaways from @kunalgoel. Another killer quarter for Coinbase and Messari’s analyst coverage. Sneak peak: https://t.co/tw41ZcAGHP
Coinbase just broke its pre-ETF highs https://t.co/gi7I7NnhDo
When Coinbase turns profitable, it’s a great time to own the stock $COIN Thanks for having me on @CNBCOvertime @jonfortt @MorganLBrennan https://t.co/mOh4cLlxWM
$COIN KBW upgrades Coinbase to market perform from underperform KBW upgraded Coinbase after its earnings report on Thursday. “Solid revenue beat in the quarter on retail engagement ultimately being much stronger than expected towards year-end.”
$COIN up 25% pre market https://t.co/Q0sNMM2w5m
$COIN (+15.2% pre) Coinbase shares surge in premarket trade after posting first quarterly profit in two years - CNBC https://t.co/5Nl8iusQoE
⚠️ COINBASE SHARES SURGE AFTER BITCOIN ETF EUPHORIA HELPS RETURN TO PROFITABILITY (Reuters) Coinbase Global shares jumped 12% before the bell on Friday as strong trading volumes due to optimism around spot bitcoin exchange-traded funds (ETFs) helped the cryptocurrency exchange…
Just minted COIN Earnings on @Coinbase_NFT https://t.co/alToouWi6Q
**Coinbase Global, Inc. | NASDAQ: $COIN - US$165.67, Neutral, US$165.00 Target | Crypto Bull Market Tailwinds Drive An Impressive Revenue Beat; Raising EPS*** @markets
Coinbase share surge 13% in premarket trade after posting first quarterly profit in two years https://t.co/AMFBwIWnOY
Coinbase Global, the U.S.'s largest centralized crypto exchange, posted a quarterly profit for the first time since 2021. https://t.co/Dca86aVx2q
Shares of Coinbase surged after the company posted a blowout quarter. Here's what CEO Brian Armstrong had to say. https://t.co/s2nhJ4Vz5i https://t.co/P3O3p6xXNZ
.@jpmorgan raised its rating on crypto exchange $COIN to neutral from underweight to reflect rising crypto prices. https://t.co/KPYYvO8NEO
Coinbase rides bitcoin ETF frenzy to first quarterly profit in 2 years https://t.co/pJikZWZN7a by @DsHollers
$coin was my absolute best conviction purchase this bear market. Went hard at $39 and kept buying up. What an incredibly run company and business. They also do an amazing job at representing crypto on the global stage with utmost class. https://t.co/3kvueqD4Og
$coin next and future earnings will be robust. As crypto mcap and volatility continue to grow (we already know q1 is huge) , it will continue to reap the benefits 📈 … we are going much higher https://t.co/Ty1bvw36DN
Coinbase rides bitcoin ETF frenzy to first quarterly profit in two years https://t.co/6ALz561tFx by @DsHollers
COIN up ~12% after-hours. Investors clearly like those earnings https://t.co/tW5AXRTAl1
Coinbase is killing it and I love this earnings format they use https://t.co/5NKyUqNlq5
So coinbase beats earnings estimates and crypto goes red? Cool!
coinbase earnings notes here w @jacqmelinek feat @MattRosoff on the edit https://t.co/LDxx4HShho
$COIN is up 15% after hours now. Holding until after the halving. https://t.co/Fs9AGRwAO3
Coinbase posts profit on robust trading, higher interest income https://t.co/vlvt1yHm57 https://t.co/Ta3HEcRp4q
Flush late longs after bullish Coinbase earnings ☑️
$COIN strong earnings.Numbers are similar to tweet below (revenue slightly above 950M).Strong guidance for Q1 while expenses remain flat. Huge numbers and this is before the impact of Coinbase's new product (figure below). I will discuss other features after the call https://t.co/66daE6PYFH https://t.co/JVhQCc4ZRg
$COIN earning report digestion. 1.) retail coming back 2.) retail learned to use advance trade, this is good for consumer 3.) expense control is in check 4.) haven’t accounted for FASB change (worth $2.1 EPS) https://t.co/n0lshSYhDF
$coin killed it, beating estimates by $125m+ Q1 crypto is looking strong already, so tldr, we're going much higher. https://t.co/Nf4xq2m57t
$COIN destroys earnings by $100M+ and is up 8% after hours. Wall Street is coming for your bags. https://t.co/3Z3TVuF3ia https://t.co/QhQLfBu9YR
Coinbase earnings just destroyed Wall Street’s expectations. This should shake the smart money out of their hibernation. It is going to be a fun year.
Coinbase $COIN after hours Bang 💥 +14 https://t.co/lsZGpsjQCw
$coin now flying higher
Coinbase absolutely crushed earnings. https://t.co/3V0qHRK1G2
$COIN earnings after the bell. What do you guys think 🍿
Price predictions for Coinbase earnings today? $Coin
Coinbase Up 5% Ahead of Q4 Earnings as Analysts Ponder Bitcoin ETF Impact ► https://t.co/tmP7QA5Jav https://t.co/tmP7QA5Jav
As #Bitcoin surges, U.S.-listed crypto firms like Coinbase and Bitfarm see even larger gains. @ThinkingCrypto1 notes the symbiotic relationship between crypto assets and stocks, with increased investor interest boosting exchange revenues. https://t.co/EH2DPaMd6x
Coinbase is one the verge of turning profitable, bolstered by Bitcoin’s recent resurgence and cost cuts made during the last crypto winter https://t.co/5DVYHCuQZd via @crypto
Coinbase is one the verge of turning profitable, bolstered by Bitcoin’s recent resurgence and cost cuts made during the last crypto winter https://t.co/6VEWpRCIja
Coinbase rose in early trading after a JPMorgan analyst ditched his bearish view less than a month after downgrading the stock https://t.co/aQKAfGPXft
Coinbase’s stock gains as JPMorgan abandons bearish call less than a month in https://t.co/Ji5j6D6BVA
$COIN JPMorgan turns neutral on Coinbase amid rising crypto prices JPMorgan turned less bearish on Coinbase as cryptocurrencies jump following the approval of bitcoin ETFs . Analyst Kenneth Worthington upgraded the crypto platform to neutral from underweight. However, his $80…
.@jpmorgan raised its rating on crypto exchange $COIN to neutral from underweight to reflect rising crypto prices. @willcanny99 reports. https://t.co/MaFhpwTOvX
COINBASE $COIN upgraded from 'Underweight' to 'Neutral' at JPMorgan, with the analyst taking a complete 180 on Bitcoin ETF outlook from Monday's note: "We are upgrading Coinbase from Underweight to Neutral reflecting the surge in Bitcoin, Ethereum and broader cryptocurrency… https://t.co/qAQLQDXSRg
$COIN: JPMorgan Upgrades to neutral from Underweight - PT $80 JPMorgan had been quite concerned that the enthusiasm in Bitcoin over the last three months was being driven by unrealistic optimism for new money going into the cryptocurrency market through the newly approved and…
Think $coin blows Q4 expectations out of the water tomorrow (which is partly why we're seeing the stock rally so much, it's starting to get priced in) I'm so bullish on this stock it hurts
Coinbase Global Earnings Are Today. Momentum Is in the Platform’s Favor. https://t.co/4nKi26pDTp
All eyes on $COIN @coinbase earnings tomorrow
$COIN | Major Earnings Releases For Thursday 15th February: https://t.co/H9tNYFNwqr
$COIN looking good https://t.co/NhgHQC7JXG